FY2024 EPS Estimates for Veren Inc. Reduced by Atb Cap Markets (NYSE:VRN)

Veren Inc. (NYSE:VRN) – Research analysts at Atb Cap Markets lowered their FY2024 earnings estimates for Veren in a research report issued to clients and investors on Monday, September 9th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.92 for the year, down from their prior forecast of $1.02. The consensus estimate for Veren’s current full-year earnings is $1.06 per share. Atb Cap Markets also issued estimates for Veren’s FY2025 earnings at $0.76 EPS and FY2027 earnings at $0.21 EPS.

Veren (NYSE:VRN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $852.57 million for the quarter, compared to the consensus estimate of $821.00 million. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%.

Separately, Scotiabank cut their target price on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th.

Veren Trading Down 2.5 %

NYSE:VRN opened at $6.19 on Thursday. The business’s 50-day moving average price is $7.26. Veren has a 1-year low of $6.03 and a 1-year high of $9.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $3.82 billion, a PE ratio of -77.37 and a beta of 2.16.

Institutional Investors Weigh In On Veren

Several institutional investors and hedge funds have recently made changes to their positions in VRN. Creative Planning acquired a new position in shares of Veren in the second quarter worth approximately $456,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Veren during the second quarter worth $103,000. Ninepoint Partners LP bought a new position in Veren during the second quarter worth $125,920,000. Mackenzie Financial Corp acquired a new position in Veren in the second quarter valued at $2,638,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Veren during the 2nd quarter worth about $28,162,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

Veren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be issued a dividend of $0.0834 per share. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Veren’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a yield of 5.39%. Veren’s payout ratio is presently -424.95%.

Veren Company Profile

Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.